Laxmi Akkaraju Purchases 900 Shares of Aviat Networks, Inc. (NASDAQ:AVNW) Stock

Aviat Networks, Inc. (NASDAQ:AVNW) Director Laxmi Akkaraju acquired 900 shares of Aviat Networks stock in a transaction dated Wednesday, November 27th. The shares were bought at an average cost of $15.85 per share, for a total transaction of $14,265.00. Following the completion of the purchase, the director now directly owns 13,285 shares of the company’s stock, valued at approximately $210,567.25. The trade was a 7.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Aviat Networks Stock Up 0.8 %

Shares of AVNW stock traded up $0.12 during mid-day trading on Monday, hitting $15.95. The company’s stock had a trading volume of 137,743 shares, compared to its average volume of 127,106. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. Aviat Networks, Inc. has a 52-week low of $12.95 and a 52-week high of $38.85. The stock has a market cap of $202.41 million, a price-to-earnings ratio of -51.06 and a beta of 1.81. The business has a 50-day moving average price of $19.14 and a 200 day moving average price of $24.99.

Aviat Networks (NASDAQ:AVNW) last announced its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The firm had revenue of $116.66 million for the quarter. Research analysts predict that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVNW has been the subject of a number of recent analyst reports. Lake Street Capital lowered their price target on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. StockNews.com lowered Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Northland Securities reduced their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Roth Mkm decreased their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, B. Riley cut their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Hedge Funds Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Aviat Networks during the second quarter valued at $29,000. NBC Securities Inc. bought a new position in shares of Aviat Networks during the 3rd quarter valued at approximately $62,000. Dynamic Technology Lab Private Ltd purchased a new stake in Aviat Networks in the 3rd quarter worth approximately $263,000. BNP Paribas Financial Markets raised its stake in Aviat Networks by 635.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock worth $308,000 after acquiring an additional 12,306 shares during the period. Finally, Barclays PLC lifted its holdings in Aviat Networks by 298.0% during the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock valued at $344,000 after purchasing an additional 11,926 shares in the last quarter. 78.62% of the stock is owned by institutional investors.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.